TMI Blog2019 (12) TMI 1028X X X X Extracts X X X X X X X X Extracts X X X X ..... efault u/s 201(1) and 201(1A). Thus we do not find any reason to interfere in the findings of ld. CIT(A). - Decided against revenue - ITA No. 1415/JP/2018 (Assessment Year :2013-14) - - - Dated:- 30-10-2019 - SHRI RAMESH C SHARMA, AM AND SHRI VIJAY PAL RAO, JM Revenue by: Ms. Anuradha (JCIT) Assessee by: Shri Vikram Gupta (FCA) ORDER PER: R.C. SHARMA, A.M. This appeal by the revenue is directed against the order dated 14/09/2018 of ld. CIT(A)-3, Jaipur for the A.Y. 2012-13 in the matter of order passed U/s 201(1)/201(1A) of the Income Tax Act, 1961 (in short, the Act). 2. In this appeal, the grievance of the revenue relates to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g interest at applicable rates. Some customers had provided their form 15G/15H and no TDS deduction were being made by the assessee on these interests. However, in some cases, the amount of aggregate interest in the financial year exceeded the basic exemption limit as per income tax act for filing return u/s 139(1) and still no TDS was deducted as the customer had provided form 15G/15H Further, this information is also not being fed by the assessee in his TDS return. This is clear violation on the part of the bank of Section 197A (1A) and Section 197 (1C) of the Act. Accordingly, the A.O. treated the assessee in default U/s 201(1) for non-deduction of TDS on interest paid to the customers and total demand of ₹ 52,34,703/- was raised U ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies below. I found from the record that during the appellate proceedings, the assessee had filed the additional evidences which were sent by the ld. CIT(A) to the AO for his remand report. The remand report so submitted by the AO has been reproduced by the ld. CIT(A) at page 7 of his appellate order. After considering the remand report, the ld. CIT(A) deleted the addition after observing as under:- 4.3 I have carefully considered the observation made by the Assessing Officer in order u/s 201(1) and 201(1A) of the Income Tax Act, 1961, submission and additional evidence filed by the A/R of the appellant and remand report, I find that the ACIT (TDS) in the remand report categorically stated that on perusal of the material c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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